Cryptocurrency trading is complicated. From learning about wallets to examining cryptocurrency exchanges, there are a lot of unfamiliar concepts to grasp. Since 2009, when Bitcoin was originally introduced, over 10,000 cryptocurrencies have been launched, making it practically difficult to research each one. However, with the correct platform, you’ll be able to build a solid basis for gathering information and making informed decisions. You also run the risk of being scammed or deceived if you get information from the wrong place. There are plenty of websites trying to be the top news sources for traders that are able to keep readers informed about the most major developments in the sector.
LunarCrush
LunarCrush combines artificial intelligence, machine learning, and other cutting-edge technologies to organize and make sense of data on various cryptocurrencies. This contains data on social interaction, such as Twitter activity, Reddit activity, news activity, and Google search volume, among other things. All of this data is compiled to offer you a high-level picture of how people feel about various cryptocurrency initiatives.
LunarCrush has two custom scores: AltRank and Galaxy score. Galaxy Score is derived from price score, social score, social impact, and correlation rank. AltRank measures market volume, social volume, percentage change versus Bitcoin, and Social Score.
Looking at overall social volume, how much of it is bullish vs. bearish, and how they change in tandem with the price might help you figure out where a currency is going.
One thing to keep in mind is that you should do additional research because many meme coins rely on bots and money to gain exposure, which increases their value in LunarCrush automatically. These projects, on the other hand, could be complete nonsense.
Messari
This is a cryptocurrency data aggregator that can help you find hidden gems to add to your portfolio or use a data-driven approach to make smarter trading decisions. It gives you a lot of alternatives for seeing what’s hot in the space and scouting and evaluating new coins.
The Messari screener is ideal for sorting through your findings. It uses market capitalization, volume, liquid supply, and on-chain indicators like active addresses to filter the data. The community’s screeners span a wide range of subjects, from specific types of projects to asset management portfolios. You can look at what large funds have invested in to determine if there are any projects in which you should also invest. If you’re interested, there are also specialized screeners for metaverse and gaming projects.
Messari also tries to reduce the volume of outwash trading. This is accomplished by Messari compiling a list of the ten most trustworthy cryptocurrency exchanges and reporting volume from each of these exchanges independently.
CoinMarketCap
CoinMarketCap is one of the most-referenced price-tracking services for crypto assets. Its mission is to make cryptocurrency more accessible and efficient all across the world by giving unbiased, high-quality, and accurate information to retail customers so that they can make their own informed decisions.
It is frequently quoted by CNBC, Bloomberg, and other major news agencies. It includes graphs and charts that display the prices of numerous cryptocurrencies on various exchanges.
The current company’s resources are being put to good use in order to collect more detailed information on projects, reduce information asymmetry in the crypto industry, and give higher-quality data to its hundreds of millions of consumers.
Since its acquisition by Binance in early 2020, CoinMarketCap has functioned independently of its parent company. It also serves as an ICO tracker, with data on planned and already completed token offerings. The website displays how many tokens were sold and what % of the total was raised at each session.
CoinMarketCal
CoinMarketCal is the most trustworthy economic calendar for cryptocurrency news. It includes all of the events that aid cryptocurrency traders in making better decisions. Users can build crypto events that are subsequently confirmed on the platform, which mixes evidence-based and community-driven frameworks. Genuine events receive upvotes, whereas those that look to be fraudulent receive downvotes.
They leverage the greatest technology available to give lightning-fast response times with a 99% uptime rate, based on Amazon Web Services. If you’re interested in certain events that you believe will have an impact on the price of a coin, simply search for them on the site. With only a few clicks, you may see all of the events listed for the given time period.
Additionally, several prospects can be seen in CoinMarketCal’s ‘Coins with Potential section. These are the coins that are expected to see a lot of activity and/or significant events in the near future.
Glassnode
It’s a functioning wallet address for a blockchain analytics tool. It accepts a wide range of cryptocurrencies, including well-known coins like Bitcoin, Ethereum, and Litecoin, as well as DeFi and ERC-20 tokens.
Glassnode’s weekly on-chain analysis describes the benefits of this analysis as well as how to do it yourself. They also show us where we are in the market cycle, which is helpful for managing your portfolio.
It provides an academy for beginners as well as early adopters. Here’s where you can find out what’s going on in the crypto world. It gives a high-level overview of a number of on-chain indicators, as well as their many functions and uses.
Its dashboard includes address activity, circulating supply, trading volume, transaction fees, and the number of transactions.
Summary
The cryptocurrency market is on the rise; it’s thrilling and powerful. If you decide to invest in it, keeping up with the newest industry advancements will be extremely beneficial. It’s a risky venture, but it’s considerably riskier if you don’t understand how to do research. If you use the right crypto platform, you can get the information you need. There are some sites that are completely free and others that have a free version and a paid package. Best platforms for free usage include LunarCrush, Messari, CoinMarketCap, CoinMarketCal, and Glassnode.
